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the reported 10 billion euros. he said the number has been exaggerated by the communist government, the former communist government. the officials are saying the imf nor the ecb has independently verified this figure. tyler, i have a call in to the imf. i'm awaiting their response. >>> 40% of the deposits in the cyprus banks belong to foreigners. many of whom are russian investors. robert frank here with the fallout on this. i guess it's easier for the cyprus officials to say let me take the money out rather than lay the whole cost of this bailout on cyprus' taxpayers. >> but the way they did it is surprising. cyprus is not just a tax haven for russia, it is the tax haven for russian millionaires and billionaires. russia has invested $119 billion, that's with a "brks" in cyprus in 2011 alone. that's by far the largest recipient of russian investments in the world. equal amount of investment came back to russia from cyprus. funny how that works. russian investment is five times the total economic output for cyprus. russians account for $20 billion of total bank deposits or, tyler, as you mentio
. they are debating this bailout proposal and to a man so far, they are all saying no. the governing party, apparently, has prepared a one-day postpone meant on the vote because at this point they are prepared to have sustained. cyprus' finance minister, who headed to moscow to appease some of the russian depositors has offered his resignation. people are observing what is going on in parliament. the euro has fallen the lowest since november 22nd. we're also hearing that the british ministry of defense is airlifting about a million euros to be distributed because the banks remain closed in cyprus. >> bertha, thank you very much. another story involving fake facebook shares. scott cohn has been looking into it. >> the facebook ipo and how hyped it was, how everybody wanted to get their hands on the pre-ipo shares. a man, 71 of florida, allegedly told investors that he had shares and raised about $8 million, it was all a ponzi scheme. he's charged in a four-count criminal complaint as well as a civil suit by the security and exchanges commission. could face up to 20 years in prison. he claimed he had pr
. it will create chaos, right? >> remember, they are trying to form a government over in italy, so italy could be a big issue next week. most of us feel with the holiday shortened week, easter, passover, it's a little light, but a little action towards the end of the week when you get some of the pension fund rebalances going on. >> i think you're going to try to hold it here at the highs next week. will try to go out towards the highs. at the end-of-the-quarter they print the statement and everybody is happy. >> and come april a whole new game and quarter. earnings coming and had fed york and oracle disappoint so what's it going to mean starting in april? >> and then you get the sell away crowd. a very, very broad following here on the street. >> i was going to say we probably have four or five old wives tales in the space of about two minutes. back to you, ty. >> all right, guys. thank you very much. just been talking there a little bit about cyprus. does it matter, do we care or not? will we get a deal? checking it out. steve sedgwick in moscow earlier today. russia's been a big player in t
bet you, and there's a lot of people betting that the chinese government's going to try to revive it again. i think that's one reason you're seeing solar stocks. you'd think one of their big competitors has just been taken out is good news. overcapacity in this industry has been a problem for a long time. that's why these stocks have no -- they move around crazy every day depending on what the local rumors are. >> bob, thank you very much. now down 83 points on the dow jones industrial average. bob mentioned oracle being a drag on techs. let's go up to the nasdaq where seema is following the big movers. >> i'll get to oracle in a second. take a look at apple. this stock continues to move in the opposite direction of the markets. i'm calling it the rebel in tech. yesterday we saw tech shares outperform, but apple did not participate in the rally. today we're seeing somewhat of a selloff in tech. and hey, take a look at apple. shares outperforming the pack, up about 1% on the day. gray wolf says i'd rather own apple than the s&p 500 at these levels. we'll continue to watch shares of
and the government telling you that you lose 30% of your money. >> that woultd be a bad wake up call. so, now, check out the yahoo! finance question of the day. how are you positioning the international holdings in your portfolio? we'll bring you the results later in the show. let's go to josh with the market flash. >> check out thetanking now. the analysts saying that they are gaining on check point. conversations indicate a marketed increase in share losses in the past several months. sue, back to you. >> thank you very much. it's risk off today. we're off 116 points right now on the dow jones industrial average. moments from now ben bernanke will address a group of top policymakers in london. investors will watch for any and all signs and perhaps some comments on what's going on in europe, too. steve describes what is on top of the agenda today. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office
. now we have heard that plan b has been rejected by the troika as well. cyprus government said to the troika, their european partners who they want them to lend money to, they said to them, listen, instead of taxing deposits why don't we do this instead. we have a pension fund, we'll raid it, take the cash, turn it into bond and we'll pay it back over time. the troika said that doesn't do anything for you. you still have liabilities. then they said we're also going it try to sell one of the bad banks. and the fact of the matter is if the bad bank were sellable, people like chris flowers and wilbur ross and tim collins would have been here a long time trying to buy it. they said maybe we'll split it up, divide it into the good bank and bad bank. we'll sell the good bank to the russians and the troika said selling the good bank is the easy part. what are you going to do with the bad bank? none of that is going to work. you will hear more about what the hopes are for russia from steve in a second. because plan b has been rejected, this is the stark choice cyprus faces. they can ei
Search Results 0 to 5 of about 6